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Cost of Life Insurance to Drop
As Life-Span Estimates Expand

By

Christopher Oster Staff Reporter of THE WALL STREET JOURNAL

Updated June 24, 2003 12:08 a.m. ET

For the first time in nearly a quarter century, regulators are revising one of the most important tools in the life-insurance business -- the mortality tables that estimate how long people will live and are used to set premiums.

The result is some rare good news for insurance buyers. Not only are people living longer, but some are paying less for insurance as a result. During the next several years, rates for some so-called term-insurance policies will drop as much as 30%, while other policies will see less significant...